LSE revenues jump thanks to clearing business

The London Stock Exchange's fledgling clearing business was the stellar performer in the first half of the year pushing the exchange group's income up 20 per cent to £386.5m.

The LSE said interest drawn from loans to clients through its clearing business rose 225 per cent to £54.3m in the six months to the end of September, driving profit up 38 per cent to £214.3m and earnings up 48 per cent to 47.6 pence per share.

"Key highlights include a very good performance from post trade, an area we highlighted in 2009 as a core focus for us and which is now making a significant contribution to both Group revenue and growth," said chief executive Xavier Rolet in an emailed statement.

Revenue at the LSE's main capitals markets business rose 13 per cent to £159.8m, while data services was up six per cent to £89m and technology sales rose one per cent to £24.8m.

The LSE results came as fellow trading firm ICAP (IAP.L), which matches buyers and sellers in the bond, currency and swaps markets, reported flat revenue for the same period of 867 million pounds.